Aspects of Playing for Comps from Casinos: Improving Expected Player Value
Casinos compete for players’ time and money by compensating them with gifts (comps). These gifts include free drinks, meals, free or reduced-rate rooms, show tickets and extend RFB (all room, food and beverage costs), airfare reimbursement or return flight certificates, and tickets to the Super Bowl. Compensation programs are inherently designed to build customer loyalty and encourage subsequent visits with the customer’s purses and/or wallets in hand. Customers do not have to be high rollers to receive these incentives; many low-mid level players can and do receive a surprising amount of freebies and discounts. This is particularly relevant today in part due to the current state of our overall economy; In Las Vegas, visitor numbers and gaming funds have dropped significantly and this has increased compensation offers from gaming properties as they try to entice players to come through their doors. On a recent (late October 2008) nine-day stay in Vegas, my wife and I didn’t have to pay for a single night’s stay (all rooms are free) and we’re not high-end gamblers at all. Our gaming endeavors include blackjack at tables with minimum bets of $10 to $25 and penny or nickel denomination slot machines and video poker with bets ranging from 40 cents to $2.00 per spin.
Compensation prizes are generally determined by Average Bet x Hours Played x Bets Per Hour x Expected House Edge x % Casino Compensation Return to Players (typically ranges from 25-40% of expected win per player). the casino). For example, let’s say you play a decent game of blackjack (player-friendly rule set and accurate basic strategy) and your average bet is $10 per hand. If you play an “average” 6-deck shoe game, you can expect to see 60 – 80 hands per hour if the table involves 3-4 other players. Many casinos use 60 hands per hour and a 2% house edge when calculating expected player dollar returns and resulting compensation calculations. Most casinos will return approximately 40% of their expected profit to a player in the form of gifts. For the game above, let’s say you play 5 hours (hopefully at more than one table); a reasonable compensation calculation would be $10 (average bet) X 5 (hours played) X 60 (hands/hour) X 0.02 (house edge) X 0.40 (proportional casino return to players). This means that cumulatively you wagered approximately $3000.00 (shocked?) X .02 = $60.00 X .40 = $24.00 in compensation won.
A key tip to remember about gifts while in Las Vegas or anywhere else… ASK for them… politely. At some Las Vegas properties, you may need to wager $15 or $25 per hand to qualify for table game comps. Some casinos off the Las Vegas Strip are more liberal with their food giveaways than many of the Strip venues; On several different trips I have played for 2-3 hours at the Orleans with an average wager of $10-$20 and have never had a problem getting buffet gifts for two when properly asked. There is a wide variation in compensation programs between casinos and corporate gaming entities. Players must determine where they like to play and take advantage of the compensation program specifications at a given location. Don’t be surprised if a player’s club representative/host is vague about how they calculate earned compensation; giveaways may vary by season and any factors that increase patronage (weekends vs. weekdays, holidays, major events/conventions). Low to mid level players will find it more difficult to get compensation during these high traffic situations at times. It is suggested that players familiarize themselves with a host of slots/table games with which they feel comfortable; Generally speaking, it’s a good idea to request a host of the opposite gender. Contacting a host can generate real dollar value for future visits (minimize losses/improve profits); Part of a host’s job is to enhance the player’s experience while playing. At many properties, room managers may give out gifts of meals. The key elements to playing an enhanced value compensation game are betting within your prescribed budget, playing games with house advantage, knowing the proprietary compensation schedule, and ASK. On the other hand, the trade-offs of “chasing” (i.e. playing too long just to get a meal) can lead to bigger losses in the game overall, especially if you’re losing hand after hand, dice roll, or dice roll. slot after slot spin. . Common sense applies.
Blackjack is an excellent game to acquire gifts due to the generally lower house odds compared to all other casino games, provided players select games with player-friendly rules and learn accurate basic strategy for the game specific played. If a player takes advantage of these conditions and uses tactics that slow down the game (fewer hands played per hour), he will have used some basic tactics to improve his cumulative compensation. Factors that can slow down a game include playing at crowded tables, talking to other players regularly while the game is in progress, extending decision times on hand plays, and taking frequent bathroom or cell phone breaks. Another tactic to improve blackjack compensation accumulation is to increase bet levels when pit bosses and/or table hosts watch a specific game; these should improve your table game ratings and increase compensation levels. Bet levels can be lowered if desired when one is not being scrutinized by members of the casino staff.
Tracking slots/video poker (VP) games for comps requires players to have their club cards inserted and inserted correctly to accumulate points; always determine that this is the case and check periodically during sessions on a given machine. Video poker generally offers higher payback percentages than slots, but VP game rewards are generally lower for the same bets/time played compared to slots. It is a standard casino compensation mechanism. If you find a casino that you like to play at, enjoy slots, and have plenty of time, I think it’s possible to identify some particular machines that show a higher payback percentage than others (we know this for a fact; the key is to identify them). Generally speaking, higher denomination machines have higher payback percentages (ie $1 slots versus penny machines); your ability to play these will depend on your bankroll and a common sense money management scheme. There are wide variations in payback percentages even between penny slots; Observation, common sense and a willingness to play these games can lead to identifying some of the best paying machines. The key is not to soak up a big loss hoping that the next pull…and the next…will result in a big payout. Regarding slots, we suggest a stop-loss approach. We always stop playing on a given machine if we have reached 40-50% of the original buy-in amount (ie $20-$25 credit remaining after an original $50.00 buy-in). It’s true that the average slot machine will drain your budget, but if players can identify the machines with the highest return on investment (through observation and actual play), these are reasonable alternatives for racking up freebies. Video poker with strong paytables (minimum 9/6 Jacks or Better or Double Bonus; this paytable means the machine offers a 9-for-1 payout on a full house and 6-for-1 on a flush) is a medium excellent for increasing payouts (although slower relative to most slots at the same bet levels). It is important to realize that the key factor is to identify the machines with the highest recovery percentages (i.e. “full pay” machines or those with close to 100% recovery over time, although single sessions can still generate losses, of course).
While looking for individual casinos to play any game, always look out for player club promotions (e.g. point multiplication days, blackjack upgrades) and use game coupons (play blackjack games and top card ace coupons) ; the use of these will improve the player’s expectations through increased wins/minimized losses while playing the courtesy game. The current economic climate in Las Vegas specifically, although generally low, is conducive to acquiring compensation offers.
Good cards…
Chuck60 @ frugally Las Vegas